Shoe Carnival (NASDAQ:SCVL) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
A number of other brokerages have also recently commented on SCVL. Pivotal Research cut Shoe Carnival from a “buy” rating to a “hold” rating and raised their target price for the company from $43.00 to $45.00 in a report on Tuesday, September 4th. BidaskClub upgraded Shoe Carnival from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 30th. Zacks Investment Research cut Shoe Carnival from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 31st. Finally, Wedbush lowered their target price on Shoe Carnival from $47.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, November 16th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $38.60.
NASDAQ SCVL opened at $35.07 on Thursday. The firm has a market cap of $587.25 million, a PE ratio of 23.54 and a beta of 0.73. Shoe Carnival has a twelve month low of $21.01 and a twelve month high of $45.00.
In related news, Director Kent A. Kleeberger sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, November 21st. The stock was sold at an average price of $36.77, for a total transaction of $55,155.00. Following the completion of the transaction, the director now directly owns 14,960 shares in the company, valued at approximately $550,079.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 22.70% of the company’s stock.
A number of hedge funds have recently bought and sold shares of SCVL. Acadian Asset Management LLC raised its position in Shoe Carnival by 125.7% in the 3rd quarter. Acadian Asset Management LLC now owns 409,843 shares of the company’s stock valued at $15,779,000 after purchasing an additional 228,244 shares in the last quarter. AQR Capital Management LLC raised its position in Shoe Carnival by 163.2% in the 3rd quarter. AQR Capital Management LLC now owns 244,488 shares of the company’s stock valued at $9,413,000 after purchasing an additional 151,586 shares in the last quarter. Citadel Advisors LLC raised its position in Shoe Carnival by 110.9% in the 2nd quarter. Citadel Advisors LLC now owns 256,079 shares of the company’s stock valued at $8,310,000 after purchasing an additional 134,651 shares in the last quarter. BlackRock Inc. raised its position in Shoe Carnival by 7.3% in the 2nd quarter. BlackRock Inc. now owns 1,648,258 shares of the company’s stock valued at $53,485,000 after purchasing an additional 112,623 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Shoe Carnival by 146.6% in the 3rd quarter. American Century Companies Inc. now owns 158,667 shares of the company’s stock valued at $6,109,000 after purchasing an additional 94,328 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors.
Shoe Carnival Company Profile
Shoe Carnival, Inc, together with its subsidiaries, operates as a family footwear retailer in the United States. The company offers various dress, casual, and athletic footwear products for men, women, and children; and accessories, such as socks, belts, shoe care items, handbags, sport bags, backpacks, jewelry, scarves, and wallets.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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